This blog publishes market news relating to the companies listed in Bursa Malaysia, as well as business news in general. You can search and find all the past market and business news by searching within this Blog.

Thursday, September 8, 2011

MAS unions protest Air Asia deal

PETALING JAYA: Three unions in MALAYSIAN AIRLINE SYSTEM BHD [] (MAS) representing about 15,000 employees will hold a picket over the national carrier's share swap exercise with AirAsia.

Union representatives said on Thursday, Sept 8 they felt the deal would not benefit MAS, and that they believed the carrier's new management team was planning the creation of a new brand within the airline as part of a union-busting move.

"We do not agree with the collaboration or the move to establish the new airline Sapphire (under the deal)," said MAS Employees' Union (Maseu) president Alias Aziz.

"What we saw from the collaboration will benefit AirAsia and also there is a rumour that there a new airline company will be set up from the collaboration.

"We already have MASwings Firefly and Mas. So, what is the purpose of wanting to establish a new airline company," he told reporters during newsconference at Maseu office in Subang Jaya.

Maseu is joining the Airline Workers Union of Sarawak and Air Transport Workers Union of Sabah in threatening industrial action in the attempt to stopthe share-swap from going ahead.

Alias also questioned why Maseu was not invited to give their opinions on the decision of the Mas supreme management about the collaboration.

MAS and AirAsia had on Aug 9 entered into the collaboration agreement to establish a framework to explore the possibilities of mutual co-operation.

To strengthen the collaboration and to further align their respective interests in AirAsia and MAS, Tune Air and Khazanah Nasional -- the majorshareholders of AirAsia and MAS respectively, have agreed to acquire from each other existing shares of both companies. - Bernama